Century Reports 2006 Financial Results

MONTEREY, CA -- (MARKET WIRE) -- February 20, 2007 -- Century Aluminum Company (NASDAQ: CENX) today
reported a net loss of $119.1 million ($3.67 per basic and diluted share)
for the fourth quarter of 2006. Reported fourth quarter results were
impacted by a net after-tax charge of $174.3 million ($5.37 per basic
share) for mark-to-market adjustments on forward contracts that do not
qualify for cash flow hedge accounting and by a gain on the sale of surplus
land. The dilutive effect of the convertible notes, options and
performance shares would reduce Basic EPS by $0.06 per share.

For the fourth quarter of 2005, the company reported a net loss of $148.7
million ($4.62 per basic and diluted share). Reported results for this
quarter were impacted by an after-tax charge of $164.6 million ($5.12 per
basic share) for mark-to-market adjustments on forward contracts that do
not qualify for cash flow hedge accounting. The dilutive effect of the
options and performance shares would reduce Basic EPS by $0.01 per share.

Recent highlights include:

-- 2006 was a record year for primary aluminum shipments (up 10 percent
over 2005), net sales (up 38 percent), operating income (up 144 percent)
and net cash provided by operations (up 37 percent).
-- The expansion of the Grundartangi, Iceland plant to 220,000 tonnes was
completed in December, on schedule and on budget.
-- The further expansion of Grundartangi to 260,000 tonnes is proceeding
on schedule and on budget.
-- Hawesville achieved record production and safety results in 2006.
-- Ravenswood, which was impacted by a labor-related potline shutdown in
August, is now operating normally.
-- We continue to make progress on the Helguvik greenfield project.

For 2006, Century reported a net loss of $41.0 million ($1.26 per basic and
diluted share). Total year results include a net after-tax charge of
$241.7 million ($7.46 per basic share) for mark-to-market adjustments on
forward contracts that do not qualify for cash flow hedge accounting and by
a gain on the sale of surplus land. The dilutive effect of the convertible
notes, options and performance shares would reduce Basic EPS by $0.17 per
share.

For 2005, the company reported a net loss of $116.3 million ($3.62 per
basic and diluted share). Reported results for this year were impacted by
an after-tax charge of $198.2 million ($6.17 per basic share) for
mark-to-market adjustments on forward contracts that do not qualify for
cash flow hedge accounting. The dilutive effect of the options and
performance shares would reduce Basic EPS by $0.01 per share.

Sales for the fourth quarter of 2006 were $424.4 million compared with
$292.9 million for the fourth quarter of 2005. Shipments of primary
aluminum for the 2006 fourth quarter were 181,675 tonnes, compared with
156,015 tonnes shipped in the year-ago quarter.

Sales for 2006 were $1.6 billion compared with $1.1 billion for 2005, and
total 2006 primary aluminum shipments of 679,939 tonnes compared with
615,842 tonnes shipped in 2005.

"In a year of robust commodity markets, we achieved important milestones
and posted record results," said president and chief executive officer
Logan W. Kruger. "We concluded labor contracts with the United
Steelworkers at both of our operated U.S. smelters. The innovative
agreement with the power provider at Ravenswood provides for shared gains
at today's metal prices and an acceptable rate during lower market
environments. Hawesville achieved the highest production in the plant's
36-year history.

"At Nordural, we completed a major brownfield expansion from 90,000 to
220,000 tonnes on schedule and budget. We secured the energy required to
accelerate a further expansion to 260,000 tonnes from late 2008 to the
fourth quarter of 2007; this project also remains on schedule and on
budget. We achieved a significant milestone for our Helguvik greenfield
venture when we signed a memorandum of understanding with Iceland's two
major geothermal power providers to purchase electrical energy for the
project.

"I am pleased with the performance of the entire Century team. We enter
2007 as a larger and more competitive company, well positioned for further
profitable growth."

Century Aluminum Company owns primary aluminum capacity in the United
States and Iceland, as well as an ownership interest in alumina and bauxite
assets in the United States and Jamaica. Century's corporate offices are
located in Monterey, California.

Century Aluminum's quarterly conference call is scheduled for 5:30 p.m.
Eastern time today. To listen to the conference call and to view related
presentation materials, go to www.centuryca.com and click on the conference
call link on the homepage.

Cautionary Statement

This press release may contain "forward-looking statements" within the
meaning of U.S. federal securities laws. The company has based its
forward-looking statements on current expectations and projections about
the future; however, these statements are subject to risks, uncertainties
and assumptions, any of which could cause the company's actual results to
differ materially from those expressed in its forward-looking statements.
More information about these risks, uncertainties and assumptions can be
found in the risk factors and forward-looking statements cautionary
language contained in the company's Annual Report on Form 10-K and in other
filings made with the Securities and Exchange Commission. The company does
not undertake, and specifically disclaims, any obligation to revise any
forward-looking statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date such forward-looking
statements are made.